The Day Ahead

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Key Economic Data:

US:

Consumer confidence (June)

Regional business activity from Philadelphia Fed and Richmond Fed

House prices (April, FHFA)

Q1 current account balance

Germany:

Ifo business sentiment survey (June)

Canada:

Consumer price inflation (May)

Central Bank Activity:

US Federal Reserve:

Chair Powell testifies before Congress

Other Fed officials (Hammack, Williams, Collins, Barr) also speak

European Central Bank (ECB):

President Lagarde, Guindos, and Lane give remarks

Bank of England (BoE):

Governor Bailey and other key members (Greene, Ramsden, Breeden) speak

Corporate Earnings:

Key results from FedEx and Carnival

Government Bond Auctions:

US Treasury sells 2-year notes

Other Events:

NATO Summit continues (ends June 25)

China’s National People’s Congress Standing Committee meets (through June 27)

Summary:
It’s a heavy day for central bank speeches, led by Fed Chair Powell. Markets will also be watching Canadian inflation and US confidence data for clues on growth and rate paths. The NATO summit and China’s NPC meeting add geopolitical weight, while FedEx earnings may provide insight into global demand trends.

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